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Economic Watch: Half century on, China-EU economic ties deepen amid global uncertainties
Xinhua | English | News | May 9, 2025 | UndeterminedEconomic Growth
As China and the European Union (EU) celebrate 50 years of diplomatic ties in 2025, their economic relationship is demonstrating enhanced strength and resilience despite global uncertainties. According to China's General Administration of Customs (GAC), bilateral trade has increased over 320-fold in the past five decades, currently totaling approximately 780 billion U.S. dollars. In the first quarter of 2025, trade reached 1.3 trillion yuan (about 180.5 billion U.S. dollars), reflecting a 1.4 percent year-on-year growth and equating to over 10 million yuan in trade every minute.
Significant growth is evident in the types of goods exchanged. China's imports of advanced equipment from the EU rose 30.4 percent to 64 billion yuan, comprising nearly one-third of total imports in that category. Exports from China to the EU, such as industrial robots and high-end machine tools, also saw substantial increases of 81.9 percent and 11.7 percent, respectively. These trends are influencing long-term investment decisions by European multinationals, such as BMW, which recognizes China as both its largest market and a key innovation hub.
European companies are actively enhancing their presence in China, with initiatives like Siemens’ first industrial ecosystem hub in western China and Danfoss’ new carbon-neutral factory in Nanjing. These developments align with China's commitment to expanding high-standard market access and improving the business environment for foreign firms. The country continues to focus on building a law-based, internationalized marketplace while addressing protectionism and geopolitical tensions. In efforts to stabilize foreign investment, a new action plan was implemented, offering 20 measures to improve access and encourage investment in various sectors.
Officials assert that China and the EU remain each other's key trading partners, driven by complementary economies and shared interests. In light of global economic instability, maintaining cooperation and open trade is vital for both regions, as highlighted by Wang Lingjun, deputy head of the GAC. Continued collaboration aims to offer stability and certainty, benefiting both economies and contributing to global supply chain resilience.